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Topic: Hobie Cat Company Sold to Investment Firm  (Read 3855 times)

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Shin09

  • Salmon
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  • Location: Portland
  • Date Registered: Oct 2015
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as seen on the Hobie.com forums:

https://paddlingmag.com/stories/news-events/hobie-sold-to-investment-group/

Will be interesting to see how this plays out.  On one hand, it seems good they acknowledge the production issues.  On the other hand, acquisitions like this seem to usually be more about the bottom line than improving the product.


Stinger Hook

  • Lingcod
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  • Location: Hillsboro, OR
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Thanks for sharing.
I wasn't aware of this. Let's indeed wait and see how this plays out.
Hopefully no long term issues.


Ling Banger

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Almost never turns out well for consumers.




"We're going to go fishing
And that's all there is to it." - R.P. McMurphy


Shin09

  • Salmon
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I was actually just reading about the Traeger acquisition from a few years back. While it was certainly a blow to the local economy since the Hawk moved away from here I would largely say the consumer overall has benefited.

Hope the same goes for Hobie. It seems like the sailing part of the business would be most likely to atrophy. The has been little product development on that side and the line continues to get cut.


Tinker

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As far as I can tell, Maynards Industries is an AUCTION HOUSE.  Take it for what it's worth.

https://maynards.com/

That is the right Maynards, with the correct CEO:

https://www.bbb.org/us/mi/southfield/profile/auctioneer/maynards-industries-inc-0332-90011585
« Last Edit: March 15, 2021, 05:04:34 PM by Tinker »


crash

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As far as I can tell, Maynards Industries is an AUCTION HOUSE.  Take it for what it's worth.

https://maynards.com/

That is the right Maynards, with the correct CEO:

https://www.bbb.org/us/mi/southfield/profile/auctioneer/maynards-industries-inc-0332-90011585

It didnt sell to Maynards.  It sold to an investment group made up of Maynards senior management.  The auction business is good and they are diversifying.  Maybe theyll buy a football team next?


Tinker

  • Sturgeon
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Not the point - and that's not how the buyout has been publicized, but okay, point taken.  Still, the senior management positions at Hobie - CEO, CFO, and COO - have been replaced by the executives of Maynards, and they have no background or experience in making anything.  They take things apart.  Not saying they'll do that to Hobie, but it wouldn't seem to be a match made in Heaven for Hobie.

I also wonder why Hobie, the market leader in watersports, felt a need to sell.


  • Location: Portland, OR
  • Date Registered: Dec 2018
  • Posts: 94
Not the point - and that's not how the buyout has been publicized, but okay, point taken.  Still, the senior management positions at Hobie - CEO, CFO, and COO - have been replaced by the executives of Maynards, and they have no background or experience in making anything.  They take things apart.  Not saying they'll do that to Hobie, but it wouldn't seem to be a match made in Heaven for Hobie.

I also wonder why Hobie, the market leader in watersports, felt a need to sell.

If your primary business is paddlesports, 2020 was the year to sell... because kayaking companies have never been worth near what they were last year/this year, and the work load has simultaneously never been more difficult to navigate. Cant say I blame them.
The leadership team that really gets shit done (Ruth & co) are still around. I dont anticipate many changes. This is the second time that theyve changed ownership during my time in the paddlesports industry, and if anything the last buyout led to a lot of drastic improvements.


Squidder_K

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Not the point - and that's not how the buyout has been publicized, but okay, point taken.  Still, the senior management positions at Hobie - CEO, CFO, and COO - have been replaced by the executives of Maynards, and they have no background or experience in making anything.  They take things apart.  Not saying they'll do that to Hobie, but it wouldn't seem to be a match made in Heaven for Hobie.

I also wonder why Hobie, the market leader in watersports, felt a need to sell.

The founder died, and now is a good time to sell before the cheap brands under cut you.
US Army & Army National Guard Veteran of 34 years
Veteran 36th Infantry Division "The Fighting Texans!," FOB Danger, Tikrit Iraq 2005
Boston Sports Fan since 1967, I have seen the highs, and the lows of Boston sports teams.


Tinker

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The founder died, and now is a good time to sell before the cheap brands under cut you.

Uh, Hobie Alder passed away in 2014.


Squidder_K

  • Rockfish
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The founder died, and now is a good time to sell before the cheap brands under cut you.

Uh, Hobie Alder passed away in 2014.

I know, but you know if he was alive it would of never been bought. 
US Army & Army National Guard Veteran of 34 years
Veteran 36th Infantry Division "The Fighting Texans!," FOB Danger, Tikrit Iraq 2005
Boston Sports Fan since 1967, I have seen the highs, and the lows of Boston sports teams.


ballardbrad

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The founder died, and now is a good time to sell before the cheap brands under cut you.

Uh, Hobie Alder passed away in 2014.

I know, but you know if he was alive it would of never been bought. 

Hobie Alter sold the company 7 years after founding it in 1975 to the Coleman Company. It's been sold to a couple private equity firms in the late 80's and mid 90's. The three new investors are dumping a load of cash into the business to increase production.  Business as usual.


Squidder_K

  • Rockfish
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  • Location: Bremerton, WA
  • Date Registered: Sep 2018
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The founder died, and now is a good time to sell before the cheap brands under cut you.

Uh, Hobie Alder passed away in 2014.

I know, but you know if he was alive it would of never been bought. 

Hobie Alter sold the company 7 years after founding it in 1975 to the Coleman Company. It's been sold to a couple private equity firms in the late 80's and mid 90's. The three new investors are dumping a load of cash into the business to increase production.  Business as usual.

Well maybe they can bring the cost down on the units. Seems the original peddle drive was $1899 or so, Which was high then, now it would be a bargin.
US Army & Army National Guard Veteran of 34 years
Veteran 36th Infantry Division "The Fighting Texans!," FOB Danger, Tikrit Iraq 2005
Boston Sports Fan since 1967, I have seen the highs, and the lows of Boston sports teams.


Shin09

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I mean....A passport 12 MSRP at 1699 and is arguably a superior boat in almost every way to the original mirage kayak.  Adjusted for inflation thats a deal


Squidder_K

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Agree, but they only came out with stripped down yaks because the rest of the world started making peddle drives.
US Army & Army National Guard Veteran of 34 years
Veteran 36th Infantry Division "The Fighting Texans!," FOB Danger, Tikrit Iraq 2005
Boston Sports Fan since 1967, I have seen the highs, and the lows of Boston sports teams.


 

anything